Wedbush Reiterates “Outperform” Rating for Skillz (NYSE:SKLZ)

Skillz (NYSE:SKLZ)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They presently have a $15.00 target price on the stock. Wedbush’s price target points to a potential upside of 221.20% from the company’s previous close.

Skillz Stock Performance

Shares of SKLZ traded down $0.44 during mid-day trading on Friday, reaching $4.67. 212,958 shares of the company’s stock were exchanged, compared to its average volume of 97,717. The business’s fifty day simple moving average is $5.99 and its 200-day simple moving average is $5.65. The stock has a market capitalization of $81.40 million, a PE ratio of -2.08 and a beta of 2.74. Skillz has a 52-week low of $4.33 and a 52-week high of $7.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Skillz by 1.6% in the 4th quarter. Renaissance Technologies LLC now owns 404,825 shares of the company’s stock valued at $2,036,000 after acquiring an additional 6,200 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Skillz by 36.5% during the third quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock valued at $904,000 after acquiring an additional 42,998 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Skillz by 58.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock worth $472,000 after buying an additional 30,903 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Skillz by 136.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 28,823 shares of the company’s stock worth $145,000 after acquiring an additional 16,622 shares during the period. Finally, PDT Partners LLC acquired a new position in Skillz during the fourth quarter worth approximately $141,000. 19.42% of the stock is currently owned by institutional investors and hedge funds.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.